A decade ago the median weekly rent for houses in Redfern was just $395, figures from Australian Property Monitors show.

That figure has since risen to $710 a week but for renovated terraces with four bedrooms such as these you would expect to pay much more, even if they are on Everleigh Street.

Much of upper Eveleigh Street was razed in 2010 by its owners, the Aboriginal Housing Company, after it deteriorated into a slum. The AHC's redevelopment plan to provide 62 affordable houses for Aboriginal families, the Pemulwuy Project, has been delayed by financial problems. An abandoned car park and several derelict terraces are a stark reminder of the street's troubled past; although a large mural of the Aboriginal flag has become a Sydney landmark.

Redfern has evolved to become a magnet for students and the young-at-heart. The arts, cafe and bar scenes are all growing, and the suburb is developing a cool factor to rival Newtown and Surry Hills.

The new "urbanest Cleveland Street" student accommodation complex, just metres from the rental properties at 31-47 Eveleigh Street, will attract another 440 young residents to the emerging precinct when it opens on February 15.

65 comments

Heard this one many times before ... Redfern is going to become the "new Newtown". The real estate agent is fishing for suckers - isn't that a shock.

Commenter

Stanley Tweedle

Location

The Lexx

Date and time

January 09, 2014, 9:56AM

It will happen sometime and 2014 could well be the time.

Commenter

alto

Location

Date and time

January 09, 2014, 12:00PM

Sydney: No place for vibrancy, just social and economic displacement...

Commenter

AJB

Location

Sydney

Date and time

January 09, 2014, 10:23AM

Moratorium on population growth until state and federal government do something about horrific housing cost and infrastructure.

Commenter

JohnBB

Location

Date and time

January 09, 2014, 11:38AM

@JohnBB, completely agree!

Commenter

AJB

Location

Sydney

Date and time

January 10, 2014, 3:10PM

Totally agree, JohnBB. We need zero immigration from all and any source until housing and infrastructure catches up. No politician has the guts to do it though.

Commenter

The Genuine Article

Location

Date and time

January 11, 2014, 5:31PM

My parents purchased a property in lovely Eveleigh St Redfern in the 60's and left around 1985. My childhood was hell living there. I would never live there again. Its a dangerous and depressing area. I cannot believe people would pay that much money for it. Good luck.

Commenter

Ana

Location

Coast

Date and time

January 11, 2014, 11:11PM

Then leave. Nothing forcing you to stay in Sydney. There are much nicer places in Australia than Sydney.

The only reason Sydney is so expensive is because so many people want to live which creates jobs which is why so many people want to live there. But. there are opportunities all over this country. All it takes is the will to explore and to step out of your comfort zone.

Australia grows by a mere 400,000 people every year. This is a very small number.

Commenter

Bender

Location

Date and time

January 12, 2014, 10:53AM

My first job was just off Eveleigh street 20 years ago. As a wide-eyed country boy I used to walk through the block every morning without realising its "history". On the first day there were 4 carloads of police circling Louis, eveleigh and vine streets. Kids falling through the roof, stubbies and rocks raining down on the building because someone dared challenge a kid stealing his car. Walking to the milkbar in pairs for safety, squatters over the road, a park full of bodies during the country rugby league tournament.

Now what? Rendered, grey suburbia. Goodbye inner-city, hello bland.

Commenter

time to go

Location

Date and time

January 09, 2014, 10:34AM

Totally agree, but it's nothing new. The same happened in Erskineville, Paddington etc.

You'll just have to head west if you like a bit of excitement. May I suggest Cabramatta, Bankstown, Campbelltown etc. They still seem to make the news fairly often for shootings and stabbings.